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INDUS Realty Trust Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

INDUS Realty Trust has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for INDUS Realty Trust's Piotroski F-Score or its related term are showing as below:

INDT' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of INDUS Realty Trust was 8. The lowest was 1. And the median was 5.


INDUS Realty Trust Piotroski F-Score Historical Data

The historical data trend for INDUS Realty Trust's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

INDUS Realty Trust Annual Data
Trend Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 7.00 3.00 5.00 5.00

INDUS Realty Trust Quarterly Data
Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 5.00 5.00 5.00 5.00

Competitive Comparison

For the Real Estate Services subindustry, INDUS Realty Trust's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

INDUS Realty Trust Piotroski F-Score Distribution

For the Real Estate industry and Real Estate sector, INDUS Realty Trust's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where INDUS Realty Trust's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was -3.547 + 19.61 + 0.269 + 2.822 = $19.15 Mil.
Cash Flow from Operations was 3.583 + 3.568 + 3.967 + 7.311 = $18.43 Mil.
Revenue was 10.754 + 11.662 + 11.519 + 11.728 = $45.66 Mil.
Gross Profit was 7.853 + 8.933 + 8.743 + 9.181 = $34.71 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(410.234 + 422.002 + 590.646 + 591.86 + 586.822) / 5 = $520.3128 Mil.
Total Assets at the begining of this year (Jun21) was $410.23 Mil.
Long-Term Debt & Capital Lease Obligation was $165.93 Mil.
Total Current Assets was $88.14 Mil.
Total Current Liabilities was $20.80 Mil.
Net Income was -0.641 + -11.063 + -0.768 + -1.151 = $-13.62 Mil.

Revenue was 9.863 + 8.546 + 10.087 + 9.303 = $37.80 Mil.
Gross Profit was 7.139 + 6.305 + 7.007 + 6.971 = $27.42 Mil.
Average Total Assets from the begining of last year (May20)
to the end of last year (Jun21) was
(280.722 + 310.129 + 301.362 + 404.815 + 410.234) / 5 = $341.4524 Mil.
Total Assets at the begining of last year (May20) was $280.72 Mil.
Long-Term Debt & Capital Lease Obligation was $158.41 Mil.
Total Current Assets was $74.40 Mil.
Total Current Liabilities was $14.81 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

INDUS Realty Trust's current Net Income (TTM) was 19.15. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

INDUS Realty Trust's current Cash Flow from Operations (TTM) was 18.43. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=19.154/410.234
=0.04669043

ROA (Last Year)=Net Income/Total Assets (May20)
=-13.623/280.722
=-0.04852844

INDUS Realty Trust's return on assets of this year was 0.04669043. INDUS Realty Trust's return on assets of last year was -0.04852844. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

INDUS Realty Trust's current Net Income (TTM) was 19.15. INDUS Realty Trust's current Cash Flow from Operations (TTM) was 18.43. ==> 18.43 <= 19.15 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=165.927/520.3128
=0.31889855

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from May20 to Jun21
=158.408/341.4524
=0.46392411

INDUS Realty Trust's gearing of this year was 0.31889855. INDUS Realty Trust's gearing of last year was 0.46392411. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=88.135/20.795
=4.23827843

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=74.397/14.811
=5.02309095

INDUS Realty Trust's current ratio of this year was 4.23827843. INDUS Realty Trust's current ratio of last year was 5.02309095. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

INDUS Realty Trust's number of shares in issue this year was 10.342. INDUS Realty Trust's number of shares in issue last year was 7.718. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=34.71/45.663
=0.76013403

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=27.422/37.799
=0.72546893

INDUS Realty Trust's gross margin of this year was 0.76013403. INDUS Realty Trust's gross margin of last year was 0.72546893. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=45.663/410.234
=0.11130964

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (May20)
=37.799/280.722
=0.13464923

INDUS Realty Trust's asset turnover of this year was 0.11130964. INDUS Realty Trust's asset turnover of last year was 0.13464923. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+0+0+1+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

INDUS Realty Trust has an F-score of 5 indicating the company's financial situation is typical for a stable company.

INDUS Realty Trust  (NAS:INDT) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


INDUS Realty Trust Piotroski F-Score Related Terms

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INDUS Realty Trust Business Description

INDUS Realty Trust logo
Traded in Other Exchanges
Address
641 Lexington Avenue, 26th Floor, New York, NY, USA, 10022
INDUS Realty Trust Inc is a real estate company. The company is engaged in developing, managing and leasing industrial properties, and to a lesser extent, office/flex properties. The major developments include industrial parks, Carolina Tradeport, New England Tradeport, and Lehigh Valley.
Executives
Cpref Ii Aiv Ii - A, L.p. 10 percent owner 375 PARK AVENUE NEW YORK NY 10152
Centerbridge Partners Real Estate Associates Ii, L.p. 10 percent owner 375 PARK AVENUE NEW YORK NY 10152
Centerbridge Partners Real Estate Fund Sbs Ii, L.p. 10 percent owner 375 PARK AVENUE NEW YORK NY 10152
Cpref Ii Cayman Gp Ltd. 10 percent owner 375 PARK AVENUE NEW YORK NY 10152
Cpref Ii Aiv Ii - B, L.p. 10 percent owner 375 PARK AVENUE NEW YORK NY 10152
Aronson Jeffrey 10 percent owner 375 PARK AVENUE, 12TH FLOOR NEW YORK NY 10152
Ccp Sbs Gp, Llc 10 percent owner C/O CENTERBRIDGE PARTNERS, L.P. 375 PARK AVENUE, 12TH FLOOR NEW YORK NY 10152
Conversant Gp Holdings Llc 10 percent owner 90 PARK AVENUE 32ND FLOOR NEW YORK NY 10016
Conversant Capital Llc 10 percent owner 25 DEFOREST AVENUE, 3RD FLOOR SUMMIT NJ 07901
Simanovsky Michael 10 percent owner 90 PARK AVENUE 32ND FLOOR NEW YORK NY 10016
Clark Jon W. officer: Executive Vice President 420 LEXINGTON AVE. NEW YORK NY 10170
Daniells Thomas M officer: Senior Vice President 20 RIVER ROAD ESSEX CT 06426
Yaghoubi Ardevan director 90 PARK AVENUE 32ND FLOOR NEW YORK NY 10016
Dugan Gordon F director 50 ROCKEFELLER PLZ 2ND FLOOR NEW YORK NY 10020
North Molly director 3456 CORNELL PL CINCINNATI OH 45220

INDUS Realty Trust Headlines

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